Freight costs rise following Hanjin collapse
It appears that the strategy of Maersk Line, the world’s largest shipping group, which was to cut down shipping fees until its competitors failed and then pick them up cheap once when they were liquidated, is working.
As most of the shipping volumes that Hanjin Shipping lost have passed to Maersk and Mediterranean Shipping Company (MSC), all South Korea, which once considered itself as a global leader in the shipping industry, can do is watch “a feast of winners” caused by the rise in shipping charges.
Container spot costs skyrocketed once before, right after Hanjin Shipping filed for court receivership. Container spot freight rates on the world's busiest routes from Asia to Northern Europe jumped 36.6 percent to $949 per twenty-foot equivalent units (TEU) in September. Rates increased by 51 percent to the U.S West Coast and 45 percent to the U.S. East Coast.
source: maritimeprofessional.com
